Date:22/12/2004 URL: http://www.thehindubusinessline.com/2004/12/22/stories/2004122202631700.htm

Back AP Govt plan for reviving sick SSIs soon

Our Bureau

Hyderabad , Dec. 21

THE Andhra Pradesh Government is planning to come out with a revival package for sick small-scale units in the State.

The SSI rehabilitation policy, which would be implemented next year, would bring in several stakeholders in order to study the claims and formulate a package case by case.

It is proposed that the claims under the scheme would be examined by an independent consulting institution or individuals based on the choice of the financing bank and the entrepreneur concerned.

According to a note circulated by the Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) at a meeting on reviving sick SSIs, the proposed policy stipulated a 30-day period for grounding the package after it was agreed upon. During the period, no institution or government agency should precipitate any action against the unit in question.

Mr B. Kripanandam, Secretary Industries and Commerce Department, Govt of AP), said a part of the interest would be paid to the banker from the fund.

He said the Government proposed to revamp the marketing assistance to the SSIs in order to help the units that produced good products.